Over the weekend, something really severe happened to dForce, decentralized finance protocol. A hacker managed to gain unauthorized access to the network and drained its wallets dry. Following the hack, it was found that a total of $25 million in cryptos was stolen.
News of the hack spread like a wildfire, with some people suggesting that the network was about to shut down due to the huge amount of resources stolen. As a matter of fact, the $25 million stolen by the hacker represented the entire holdings within the network, meaning that dForce was effectively bankrupted by the hack. However, things seem to be looking up for the network.
Returning The Loot
Apparently, the hacker who stole the cryptos has decided to give them back, something that has taken many by surprise. Billions of dollars worth of cryptos are stolen by hackers every year, but it’s not every time that the hackers chose to return the loot. This one has however bucked that trend.
Different Assets
However, the hacker seems to have converted the original cryptos into other various crypto assets and derivatives – as revealed from the transactions recorded, the funds are returned in a number of separate crypto transactions. In fact, one of the transactions recorded involves ETH worth $10 million.
At the time of this writing, the hacker had returned around $24 million of the $25 million worth of cryptos stolen. However, it’s still not yet clear whether they will top up the balance or if they plan to keep something for themselves. Also, it’s still not clear what sort of point the hacker aimed to make by stealing and then returning the money.
Good Days For DForce
Besides getting its stolen money back, dForce seems to be running high on luck of late. Various institutions, including a China-based bank called CMB International (CMBI) as well as Huobi Capital have joined the network.
Just recently, the dForce Foundation received $1.5 million in investment funds from these institutions led by the Multicoin Capital. These investments are meant to improve dForce’s staff and help in the launching of new products.
